Trump Economist Stephen Moore Says Trump Economy Is Four Times Better than the Biden Disaster | Joe Hoft

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Trump Economist Stephen Moore Says Trump Economy Is Four Times Better than the Biden Disaster

 

Trump economist Steve Moore says that the Trump economy was four times better than Biden’s economic disaster. 

Joe Biden stepped into a roaring economy handed to him from President Trump and he destroyed it in no time at all.  Biden increased the debt to record highs.  He killed the energy business and drained US reserves forcing the US to import oil from foreign enemies.

Biden’s economy has seen the highest credit card debt on record.  Americans have suffered through record inflation and American families have seen their buying power reduced significantly.

The Biden economy has been a disaster but the Biden gang wants to promote the Biden economy as something it’s not.

Former Trump economist Stephen Moore reports on the Biden economy.

Yes, it’s true that in nominal terms stocks are at record highs. But one of the first rules of investing is that you need to pay attention to your after-inflation profits. If you make an investment in a widget company and in 10 years that stock has doubled in value but the price level in dollars of everything else has doubled, sorry, you’re no better off based on what you can buy with those profits.

So let’s see what has happened to stocks over the first three years of the Biden presidency — i.e, through the end of January 2024.

Over that period the price level has risen by about 18 percent. The real (inflation-adjusted) rate of return in the S&P 500 after three years of Biden is thus only 8%. This is fairly anemic and well below the average annual real rate of return since the New York Stock Exchange opened its doors, which is a three year average of more than 20%.

Biden’s performance is also much worse than the bull market under Trump. The S&P was up 36% in real terms at this time of Trump’s presidency, or more than four times better.

Evil people don’t like the truth.  They hate it. 

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